Grand Markets vs IC Markets 2026 — Head to Head Comparison

Grand Markets WINNER

9.4 / 10

Regulation ASIC 554475

Min Spread 0.0 pips

Min Deposit $100

Welcome Bonus $200 Cash

Platforms MT4, MT5

IC Markets

9.0 / 10

Regulation ASIC 335692

Min Spread 0.0 pips

Min Deposit $200

Welcome Bonus None

Platforms MT4, MT5, cTrader

1. Regulation Comparison

Both brokers hold ASIC licences — widely regarded as the gold standard for offshore CFD regulation. ASIC mandates segregated client funds held with Australian authorised deposit-taking institutions, positive net tangible assets, and annual audited financial reporting. Your capital is protected against broker insolvency at both firms.

Grand Markets holds ASIC licence number 554475, covering dealing in financial products across CFD asset classes. You can verify this directly on the ASIC public register at asic.gov.au.

IC Markets holds ASIC licence 335692. Additionally, IC Markets operates a CySEC-licensed entity (licence 362/18) for EU-based clients and an FSA Seychelles licence for international clients. For Australian and most global traders, the ASIC licences at both brokers provide equivalent protection — segregated client funds, positive NTA requirements, and annual audits. EU-based clients benefit from IC Markets' CySEC coverage under MiFID II rules.

2. Spreads and Commission

Both brokers offer raw ECN spreads from 0.0 pips on their premium account tiers. The key differentiator is commission structure. IC Markets charges approximately $3.50 per lot per side ($7 round-turn) on its Raw Spread account — making it one of the lowest-commission brokers in the industry on a total cost basis. Grand Markets charges approximately $3 per side ($6 round-turn), which is marginally lower per lot.

For a trader placing 50 lots per month, the annual cost difference between $6 and $7 round-turn amounts to $600 — measurable for active traders, negligible for occasional traders. Both brokers achieve average EUR/USD spreads below 0.2 pips during the London session on raw accounts.

On standard (no-commission) accounts: IC Markets averages approximately 0.8 pips EUR/USD; Grand Markets approximately 1.0–1.2 pips. Active scalpers and algorithmic traders should always use the ECN/Raw account type at either broker.

3. Platform Comparison

Grand Markets supports MetaTrader 4 and MetaTrader 5 — covering the needs of the overwhelming majority of retail CFD traders. MT4's ecosystem of Expert Advisors and custom indicators remains unmatched for automated strategies; MT5 adds six additional order types, 21 timeframes and a built-in economic calendar.

IC Markets extends this lineup with cTrader, plus IC Markets' custom web trader interface. IC Markets' cTrader offering is particularly strong for algorithmic traders who want to code cBots in C# rather than MQL, and for traders who value depth-of-market (DOM) visualisation. For traders who are platform-agnostic, both brokers provide excellent MT4/MT5 environments. For cTrader users, IC Markets has a clear advantage.

Both brokers offer iOS and Android mobile apps and web-based trading through MetaTrader WebTerminal. IC Markets additionally offers the cTrader web and mobile applications.

4. Instruments Available

IC Markets offers 2,000+ tradeable instruments: 60+ FX pairs (including exotic pairs), 25 indices, commodities, 25 cryptocurrencies, individual stock CFDs and ETF CFDs — one of the broadest ranges available at any ASIC-regulated broker. This breadth makes IC Markets particularly suitable for traders who diversify across asset classes or trade individual equity CFDs.

Grand Markets focuses on the core high-liquidity instruments: major and minor FX pairs, indices, commodities and cryptocurrencies. For most retail traders, Grand Markets' instrument range covers everything needed for a well-diversified CFD portfolio. For traders who specifically require exotic FX pairs or individual stock CFDs (e.g., Apple, Tesla, BHP), IC Markets provides significantly greater breadth.

5. Welcome Bonus — The Key Differentiator

This is where the two brokers diverge most significantly. Grand Markets offers a $200 Cash Reward for new clients who meet the qualifying deposit and volume conditions. This is genuine cash deposited into your trading account — not a non-withdrawable credit. The $200 effectively reduces your net cost of getting started and adds real margin capacity from day one.

IC Markets offers no welcome bonus in 2026. The broker's philosophy is that ultra-tight spreads and low commissions are the real value proposition — a legitimate position for high-volume traders. But from a value-per-dollar-deposited standpoint, a new trader starting with Grand Markets receives $200 more working capital immediately.

Full Head-to-Head Comparison Table

Who Should Choose Grand Markets?

• Traders who want the $200 Cash Reward to reduce startup costs and boost initial capital
• MT4 and MT5 users who do not require cTrader
• Traders seeking ASIC protection at a lower $100 minimum deposit
• Anyone trading core FX, index and commodity instruments who doesn't need exotic pairs

Who Should Choose IC Markets?

• Traders placing 100+ lots per month who want the absolute lowest total commission
• cTrader users or traders who need the full cBot algorithmic ecosystem
• Traders requiring access to exotic FX pairs or individual stock CFDs
• EU clients who want CySEC regulatory coverage under MiFID II

Frequently Asked Questions